Earnings Release • May 7, 2014
Earnings Release
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2014 Press release
(Non-audited data established according to IFRS standards)
Lille (France), Boston (Massachusetts, United States), May 7, 2014 – GENFIT (Euronext: GNFT ; ISIN : FR0004163111), a biopharmaceutical company at the forefront of developing therapeutic and diagnostic solutions in metabolic and inflammatory diseases, that notably affect the liver or the gastrointestinal system, today announces a turnover of €1.13 million for the period January 1 to March 31, 2014 (€0.6 million for the same period in 2013). w w w . g
The turnover results in particular from the research alliance with Sanofi (€1 million). n
As of March 31, 2014, the Company's cash, cash equivalents, and current financial instruments amounted to €20.91 million. The cash situation as of March 31, 2013 amounted to €16.9 million. i t
The first quarter of 2014 was marked by the announcement of important data on the mechanism of action of GFT505 in protection against hepatic fibrosis, in addition to strong data on NASH reversion. Moreover, the anti-inflammatory and anti-fibrotic activities of the compound were demonstrated in a recognized model of chronic inflammatory bowel disease (IBD), raising the possibility of launching a proof-of-concept study in Man. f r
declared: «Every quarter brings us further positive data for the development of GFT505 and the widening of its therapeutic potential. Furthermore, the phase 2b clinical study in NASH continues to progress without meeting the slightest obstacle, and in perfect keeping with the projected agenda. »
Items in this press release may contain forward-looking statements involving risks and uncertainties. The Company's actual results could differ substantially from those anticipated in these statements owing to various risk factors which are described in the Company's prospectus. This press release has been prepared in both French and English. In the event of any differences between the two texts, the French language version shall supersede.
GENFIT is a biopharmaceutical company focused on the Discovery and Development of drug candidates in fields of high medical need due to a lack of suitable treatment and an increasing number of patients worldwide. GENFIT's R&D efforts are focused on contributing to bringing new medicines to market for patients with metabolic, inflammatory, autoimmune and fibrotic diseases, that affect the liver (such as NASH - Nonalcoholic steatohepatitis) or the bowel (such as the inflammatory bowel disease). GENFIT implements mutually beneficial approaches that combine novel treatments and biomarkers; its research programs have resulted in the creation of a rich and diversified pipeline of drug candidates, including GENFIT's lead proprietary compound, GFT505, that is completing a Phase 2b study in NASH.
With facilities in Lille, France, and Boston, MA (USA), the Company has approximately 80 employees. GENFIT is a public company listed in compartment B of Euronext's regulated market in Paris (Euronext: GNFT; ISIN: FR0004163111). www.genfit.com
This press release contains certain forward-looking statements. Although the Company believes its expectations are based on reasonable assumptions, these forward-looking statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those anticipated. For a discussion of risks and uncertainties which could cause the Company's actual results, financial condition, performance or achievements to differ from those contained in the forward-looking statements, please refer to the Risk Factors ("Facteurs de Risque") section of the Listing Prospectus upon the admission of Company's shares for trading on the regulated market Euronext of Euronext Paris filed with the AMF, which is available on the AMF website (www.amf-france.org) or on GENFIT's website (www.genfit.com).
This press release and the information contained herein do not constitute an offer to sell or a solicitation of an offer to buy or subscribe to shares in GENFIT in any country.
GENFIT | Jean-François Mouney - CEO & Chairman of the Management Board | Ph. +333 2016 4000
MILESTONES – Relation Presse | Bruno Arabian | Ph. +331 8362 3484 / +336 8788 4726 – [email protected]
Items in this press release may contain forward-looking statements involving risks and uncertainties. The Company's actual results could differ substantially from those anticipated in these statements owing to various risk factors which are described in the Company's prospectus. This press release has been prepared in both French and English. In the event of any differences between the two texts, the French language version shall supersede.
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